Subsea 7 - News - August 3, 2005

Subsea 7 Awarded Skinfaks/Rimfaks Contract

Subsea 7 today announced contract award by Statoil ASA for the Skinfaks/Rimfaks development, located 190km west/north west of Bergen in water depths of around 140m. Contract is valued in the region of US$ 29M.

The scope of work for this project includes the engineering, fabrication and installation of two parallel 12km, 10” flowlines and a 4.5km 8” flowline. Also included in the scope is the fabrication and installation of pipeline end manifolds and pre-commissioning activities.

The contract, which commences immediately, will run through to the third quarter of next year. Subsea 7’s pipelay vessel, Skandi Navica will be utilised for the pipelay work.

Subsea 7’s Vice President for the North Sea, Robin Davies commented “We are very pleased with this award as the scope of work will not only prove our excellent engineering skills but will also demonstrate our capabilities as a leading subsea contractor.”

Ends 3 August 2005

Subsea 7 Public Relations:
Pat Stephen Tel: +44 1224 344508 or +44 7712 427608
E-mail: pat.stephen@subsea7.com
Lyndsay Cruickshank Tel: +44 1224 344606
E-mail: lyndsay.cruickshank@subsea7.com

Notes to editors:
With a workforce in excess of 3000 people worldwide, Subsea 7 is one of the world’s leading subsea engineering contractors. The company’s global offshore operations are supported out of Asia Pacific, Brazil, Gulf of Mexico, Norway, UK and West Africa. Subsea 7 has more than 100 remotely operated vehicles (ROVs), four pipeline construction yards and a fleet of modern, high specification dynamically positioned ships capable of deepwater reeled and flexible pipelay, deepwater subsea construction and saturation diving. Website: www.subsea7.com